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dc.contributor.authorFalkinger, Josefen_US
dc.date.accessioned2009-01-28T16:21:18Z-
dc.date.available2009-01-28T16:21:18Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/21314-
dc.description.abstractThis paper uses basic empirical facts from attention and perception psychology for a behavioral approach to equilibrium analysis at the industry and the macroeconomic level. The paper endogenously determines whether an economy is information-rich and whether scarcity of attention complements economic scarcity. A conventional economic equilibrium results if subjects have free attention capacity. At the positive level, the impacts of ITprogress, international integration and media on equilibrium diversity and level of attentionseeking activities are shown. At the normative level, welfare, efficiency and optimal policy interventions are characterized. Finally, behavioral effects of intensified attention-seeking on market power, sectoral economic structure and work-leisure choice are considered.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 1538en_US
dc.subject.jelD80en_US
dc.subject.jelL10en_US
dc.subject.jelD50en_US
dc.subject.ddc330en_US
dc.subject.keywordlimited attentionen_US
dc.subject.keywordinformation-rich economiesen_US
dc.subject.keywordmediaen_US
dc.subject.keyworddiversityen_US
dc.subject.keywordbehavioral equilibrium analysisen_US
dc.titleLimited Attention as the Scarce Resource in an Information-rich Economyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn483149985en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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